Here are some of the deals making news in New Jersey in recent weeks.

Sales

Winick Realty Group's Urszula Zoltek recently completed two property sales transactions in New Jersey, representing both the seller and the buyer in both transactions.  HSVC Investments LLC sold a mixed-use, three-story building at 21-25 Monroe Street in Passaic to 21, 23 & 25 Monroe Street LLC. The buyer also owns the property next door and decided to purchase the building in order to maintain its condition and preserve the value of both properties. 21-25 Monroe Street includes 12 one-bedroom apartments and four ground-floor retail spaces, each measuring 650 square feet. Currently three of the retail spaces are occupied by local businesses—a computer repair shop, a grocery and deli, and a botanica—while the fourth is currently vacant. The building was sold for $1.075 million and the sale transaction took two months to complete. At 176 Kinderkamack Road in Emerson, Hayden Asset II LLC sold 0.22 acres of land to 182 Emerson LLC for $465,000. The parcel of land is located at the intersection of Linwood Avenue, close to Vilano Elementary School, Emerson Public Library, Emerson Municipal Plaza and a New Jersey Transit Railway Station. The property houses a one-story, 1,600-square-foot retail building, as well as 14 parking spaces. The former home of AJ's Restaurant, Wacky Burgers and Fries, the retail site is currently vacant and is available for lease.

Leases

EDISON, NJ—Bussel Realty Corp. says Russel Company Inc. has leased 19,400 square feet at 1001 Roosevelt Avenue in Carteret, New Jersey, a 90,000-square-foot industrial property. BRC president Steve Bussel, SIOR, was responsible for the transaction and represented the landlord.  Newmark Knight Grubb represented the tenant. “With this transaction, there is only one remaining unit of 17,250 square feet available at 1001 Roosevelt Avenue,” says Bussel.  “The property's location near the ports, Newark Liberty Airport and the Goethals Bridge to Staten Island and Brooklyn is in hot demand by industrial users, many of whom are relocating from the Boroughs of New York.” Totaling 90,000 square feet, 1001 Roosevelt Avenue is prominently located next to Exit 12 of the New Jersey Turnpike.  The property offers 14- to 27-foot ceiling heights, 35-foot by 35-foot column spacing, 17 tailboards, three drive-ins, 1500 amps of electric power, wet sprinklers, and 40 parking spaces.

NORTH WALES, PA—Wolf Commercial Real Estate exclusively represented Hanwha Surfaces in the leasing of 40,000 square feet of industrial distribution space at 133 Hartman Road, North Wales, PA. Hanwha Surfaces is a division of Hanwha Living & Creative, the American subsidiary of Hanwha Corporation, a South Korean conglomerate. Hanwha Corporation deals in a diverse range of industries including chemicals, plastics, machinery, telecommunications, biotechnology, finance and building materials. 133 Hartman Road will be Hanwha's east coast distribution center. 133 Hartman Road, owned and managed by Nappen & Associates is a 183,600 square-foot class B Industrial Warehouse Building Built in 1999. This well located industrial property is located ½ mile from PA Route 309 and is seven miles from the Fort Washington interchange of the Pennsylvania Turnpike. Lee Fein, senior vice president of WCRE exclusively represented the tenant in this transaction.

Executive Moves

EAST RUTHERFORD, NJ–Blake Chroman has joined New York-based Sitex Group as a senior vice president responsible for leasing and acquisitions in the New York and New Jersey markets. He will be based in the firm's East Rutherford office. “Blake has an excellent track record and we're excited he's joined the Sitex team,” says Sitex principal Brian Milberg. “With a wealth of market knowledge and extensive relationships, Blake is well positioned to help expand our regional portfolio.” Before joining Sitex, Chroman was a senior vice president at Jones Lang LaSalle, where he was a member of a market-leading brokerage team that advised industrial property owners and occupiers.  His clients included institutional landlords, Fortune 500 companies and privately held businesses.  Chroman's team was regularly involved in the largest transactions in the New Jersey/New York markets and, in 2013, took home NAIOP's “Deal of the Year” award for leasing an 880,000-square-foot distribution facility in Jersey City. “I'm thrilled to join such a talented team at Sitex,” says Chroman. “I intend to leverage my experience, market knowledge and relationships to help grow the business.” Chroman is a graduate of Indiana University and a NAIOP member.